MIXED MODELS FOR RISK AVERSION, OPTIMAL SAVING, AND PRUDENCE
Irina Georgescu and
Additional contact information
Jani Kinnunen: Institute for Advanced Management Systems Research
Fuzzy Economic Review, 2016, vol. 21, issue 2, 47-70
The models of this paper refer to mixed risk situations: one parameter is a fuzzy number and the other is a random variable. Three notions of mixed expected utility are proposed as a mathematical basis of these models. The results of the paper describe risk aversion and prudence of an agent in front of a risk situation with mixed parameters and the changes of optimal saving as an effect of mixed risk.
Keywords: optimal saving; prudence; precautionary saving; mixed expected utility; mixed risk averse agent; fuzzy number; possibility theory (search for similar items in EconPapers)
JEL-codes: C61 D81 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:fzy:fuzeco:v:21:y:2016:i:2:p:47-70
Access Statistics for this article
More articles in Fuzzy Economic Review from International Association for Fuzzy-set Management and Economy (SIGEF) Contact information at EDIRC.
Bibliographic data for series maintained by Aurelio Fernandez ( this e-mail address is bad, please contact ).